Winklevoss Brothers Win Patent For A Crypto Key Storage System

The crypto exchange Gemini that was founded by the Winklevoss brothers, who are one of the wealthiest crypto investors out there, has recently won a patent for cold storage involving air-gapped computers, geographically remote vaults, plastic cards as well as papyrus.

The patent was originally filed under the brothers’ firm Winklevoss IP, LLC, in a document that was published on Tuesday by the US Patent and Trademark Office (USPTO). As such, it outlines a plan to develop a network of computers that are capable of generating accounts for storing cryptocurrencies or exchange-traded products (ETPs).

Isolated except when necessary to transfer assets, the computers in this plan would act as cold storage devices. As such, they would generate the keys for new accounts, which would then be segmented into different parts and written onto an external memory device such as a CD, DVD or flash drive.

The patent also outlined different ways of manufacturing cards, stating that “for example, two sets may be stored on paper, and a third set is stored on papyrus,” but also noting that at least one set of keys must be stored on an electronic memory device.

Linked to an access portal, the computers will be connected to the blockchain network in order to process transactions, as the document explains. Aside from this, the patent also notes that digital asset ledgers are used to facilitate financial transactions – which is why securing them enables consensus protocols to operate properly and prevent attacks from happening.